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Bad credit loans in Quebec

Find out if a bad credit loan is the right fit for you and compare some of the best lenders in Quebec.

If you’re struggling with bad credit, it can be more challenging to to get approved for a loan. However, you might be able to qualify for a bad credit loan in Quebec. You can apply online to alternative lenders and get your money as soon as the same day. Alternative lenders have much easier eligibility requirements than banks and credit unions. Just be prepared to be charged steeper rates because lenders view borrowers with bad credit as higher risk of defaulting, so they offset this with high rates.

Best bad credit loans in Quebec

How we found the best bad credit loans in Quebec

To find the best bad credit loans in Quebec, Finder experts collected more than 70 points of data for more than 60 lenders operating in Canada. Finder used this data to create a proprietary weighting formula that scores each lender based on rates, fees, terms, loan amounts, application process, funding speed, customer support, and reputation, among other features. Keep in mind, that the products listed are based on providers available through Finder and online in the Canadian loans marketplace. These loans are not representative of the entire market. Read more about the Finder personal loan ratings and review methodology.

464+

hours invested

112

lenders vetted

4,608

data points analyzed

1. LoanConnect

LoanConnect Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site
$500 – $50,000
Loan amount
8.99% – 46.96%
APR
3 - 120 months
Term
LoanConnect maintains a large database of lenders and matches you with several offers based on your unique profile. Full Review

Why it's one of the best

  • Save time. Your application will be cast wide and you'll get your results right after you apply.
  • Easily compare offers. Compare offers from multiple lenders and log in regularly to see if new offers are available.
  • Choose between secured and unsecured loans. Find a secured bad credit loan if you have an eligible asset or get a loan with no collateral.
  • Pre-approval in five minutes
  • Many bad credit loan options
  • BBB-accredited with an A+ rating
  • Fast funding
  • Not a direct lender
  • High rates for bad credit
  • Miss out on offers from lenders not partnered with LoanConnect
Loan amount $500 – $50,000
APR 8.99% – 46.96%
Term 3 - 120 months
Min. credit score 300
Fees No application, origination or brokerage fees
Turnaround time Receive funds within as little as 24 hours.
Serviced provinces All provinces

Most Recommended

LoanConnect made it to the Top 15 Most Recommended personal loan providers in the Finder: Personal Loans Customer Satisfaction Awards 2023.

2. Loans Canada

Loans Canada Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site
$300 – $50,000
Loan amount
6.99% – 46.96%
APR
3 - 60 months
Term
Loans Canada is an online broker partnered with over 60 lenders. Fill out one application and get your matches for free. Full Review

Why it's one of the best

  • Search a large lender network. Loans Canada works with over 60 verified lenders.
  • Get approved. Only see lenders that match your profile.
  • Work with an established company. Loans Canada has been in business since 2012. It has BBB accreditation with an A+ rating.
  • Easy online application
  • Quick deposits
  • High loan amounts
  • No collateral required to secure your bad credit loan
  • High rates for bad credit
  • No online quotes provided
  • Limited to its network
Loan amount $300 – $50,000
APR 6.99% – 46.96%
Term 3 - 60 months
Min. credit score 300
Fees No application, origination or brokerage fees
Turnaround time Receive funds within as little as 24 hours.
Serviced provinces All of Canada

Finalist — Best Personal Loan Search Platform category

Loans Canada earned the Finalist award in the Best Personal Loan Search Platform category in the Finder: Personal Loans Customer Satisfaction Awards 2023. Loans Canada scored 75.15% in the overall customer satisfaction score and secured a spot in Canada's Top 15 Best-Rated personal loan providers in 2023.

3. Spring Financial

Spring Financial Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site
$500 – $35,000
Loan amount
10.8% – 46.99%
APR
6 - 60 months
Term
Spring Financial offers fast approval and funding. If you don't qualify for a bad credit personal loan, however, it'll offer you its credit builder loan The Foundation. With this loan, you won't access the loan funds until after you've made all your payments on time. Full Review

Why it's one of the best

  • Get a loan from an established lender. Spring Financial has been providing bad credit loans in Canada since 2015 and has over 200 employees with headquarters in Vancouver, BC.
  • Improve your credit score. Spring Financial reports payments to the credit bureaus so you can increase your credit score.
  • Get quick funding. If you provide the required documents on time, you can get your bad credit loan the same day you apply.
  • 100% online
  • Fast funding via e-Transfer
  • No prepayment penalties
  • High rates for bad credit
  • C- BBB rating, received complaints about the credit builder loan
Loan amount $500 – $35,000
APR 10.8% – 46.99%
Term 6 - 60 months
Min. credit score 500
Fees No fees except $30 NSF fee
Turnaround time Within 24 hours
Serviced provinces All of Canada

Most Recommended + Best-Rated

Spring Financial made it to both the Top 15 Most Recommended and the Top 15 Best-Rated personal loan providers in the Finder: Personal Loans Customer Satisfaction Awards 2023.

4. LoansLoans

LoansLoans.ca Installment Loan
Finder Score:
★★★★★
Go to site
$500 – $1,000
Loan amount
28% – 32%
APR
3 months
Term
LoansLoans.ca is a broker that helps people with bad credit find a short-term loan. It doesn't do any credit checks and accepts many types of income as long as it's over $1,200. You may be required to pay a broker fee. Full Review

Why it's one of the best

  • Avoid payday loans. LoansLoans.ca's installment loans have longer loan terms than payday loans, which means you can break up your repayments.
  • Qualify. LoansLoans is open to many types of income as long as they're recurring. And since it doesn't do credit checks, you can qualify with bad credit.
  • Work with an established broker. NCR Financial Services, the company that owns and operates LoansLoans.ca, has been around for over 15 years.
  • No credit check
  • Apply online in minutes
  • Funding on the same day or next day
  • High rates and fees
  • Not very transparent about broker fees
Loan amount $500 – $1,000
APR 28% – 32%
Term 3 months
Min. credit score 300
Fees Late payment fee (2.66% per month), $45 NSF fee, broker fee
Turnaround time Receive funds in less than 24 hours
Serviced provinces All of Canada (except Manitoba)

5. easyfinancial

easyfinancial Personal Loan
Finder Award
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site
$500 – $100,000
Loan amount
9.99% – 46.96%
APR
9 - 120 months
Term
easyfinancial helps Canadians access financing when banks aren't an option. It offers bad credit loans across Canada online and in hundreds of locations. Full Review

Why it's one of the best

  • Get a quick quote. Apply in minutes with no commitment and it won't affect your credit score.
  • Work with a well-known lender. easyfinancial is one of the biggest lenders of bad credit personal loans in Canada.
  • Improve your credit score. According to easyfinancial, one in three customers graduate to prime rates after making regular, on-time repayments.
  • Secured and unsecured bad credit loans
  • High approval rate
  • BBB-accredited with an A+ rating
  • Steep rates for bad credit
  • Many negative customer reviews
Loan amount $500 – $100,000
APR 9.99% – 46.96%
Term 9 - 120 months
Min. credit score 300
Fees you may come across non-sufficient funds fees, late payment fees, missed payment fees or admin fees
Turnaround time Approval within 30 minutes
Serviced provinces all provinces

Winner: Best-in-Class

easyfinancial was awarded the Winner award in the Best Personal Loan Alternative Lender category in the Finder: Personal Loans Best-in-Class Awards 2024.

6. Lend for All

Lendforall Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
$100 – $50,000
Loan amount
2.99% – 46.96%
APR
3 - 120 months
Term
Lend for All is a loan-matching company that uses an automated process to match people with various lenders and financial institutions. It is based in Toronto, Ontario, and has an A+ BBB rating. Full Review

Why it's one of the best

  • Save time. It works with a network of lenders that offer quick approval for customers with bad credit.
  • Get fast pre-approvals. Lend for All provides quick pre-approvals within minutes by doing a soft check on your credit report.
  • Find a loan for various purposes. Lend for All will match you with offers based on your needs.
  • A+ BBB rating
  • AI technology gives you viable loan matches
  • Potential for multiple offers
  • Many loan types
  • Online broker (not a direct lender)
  • Small network of lenders compared to other brokers
  • High rates for bad credit
Loan amount $100 – $50,000
APR 2.99% – 46.96%
Term 3 - 120 months
Min. credit score 300
Fees Varies by lender
Turnaround time Varies
Serviced provinces All provinces

Finder: Personal Loan Consumer Satisfaction Awards

In 2023, we completed the Finder: Personal Loan Consumer Satisfaction Awards — an annual ranking of personal loan providers in Canada, based on customer satisfaction feedback. Read more about these awards and the methodology used to find the best personal loan providers based on customer service scores.

Alternatives to bad credit personal loans

Loan providerInterest rateLoan amountLoan termKey featuresLink

Bree

Early pay

No interest or mandatory fees$20 – $250Next pay cycle (61 days max.)Small emergency loans, no credit checkGo to site

Small credit line

0%$30 – $15030 days, extendableSmall emergency loans, no credit checkGo to site

Types of bad credit loans in Quebec

Features of unsecured personal loans for bad credit in Quebec

Bad credit installment loans in Quebec typically have the following features:

  • Loan amounts. Borrow $500–$10,000.
  • Loan terms. Repay in 3 - 60 months.
  • Interest rates. Pay 18%–47% APR.
  • How fast you can get it. You can apply online for a bad credit personal loan in Quebec within minutes and receive the money within 24 to 48 hours.

Eligibility requirements of bad credit personal loans in Quebec

Bad credit personal loan lenders in Quebec will have varying loan qualifications, but you will usually need to meet the following requirements:

  • Be at least 18 years old
  • Be a Canadian citizen or a permanent resident with a valid Quebec address
  • Have a valid bank account
  • Have proof of regular income
  • Meet the minimum credit score

Short-term installment loans in Quebec

Short-term installment loans are common in Quebec, and you can get one with bad credit because they typically don’t require credit checks. You can borrow between $300 – $1,500 and pay it back in installments over 90 -120 days.

These loans serve as payday loan alternatives in Quebec, but if you want to apply for one, watch out for the following:

  • Broker, surety or admin fee. This is a fee in the hundreds that will be added to your repayments.
  • Make sure the lender is legitimate. Check that the lender is registered and follows Quebec regulations.

Features of secured personal loans for bad credit in Quebec

Securing your loan makes your application less risky for lenders, which can increase your chance of approval for a loan with bad credit and potentially lower your interest rate. However, you could lose your collateral if you default on payments.

Vehicle title loans in Quebec

Vehicle title loans are loans secured to the title of your vehicle. Your car must be paid off to qualify for the loan, but you can still drive your car while you’re repaying it.

You can apply for vehicle title loans for bad credit in Quebec from broker services like LoanConnect and Loans Canada.

  • Loan amount. You can typically borrow up to 25% or 50% of the value of the car, udually up to $50,000. Once you’ve applied, you may have to get your vehicle appraised so your lender has a clear idea of its market value.
  • Loan term. Take up to 3 - 60 months to repay the loan.
  • Interest rate. Rates tend to range between 9% and 49% APR.
  • Turnaround time. You can usually get a bad credit auto title loan in Quebec within 24-48 hours.
  • No credit check. Vehicle title loan lenders in Quebec tend to accept bad credit borrowers and some might not even run a credit check when you apply.

Home equity loans in Quebec

If you’re a homeowner in Quebec and have some equity built up in your house, you can use that equity as collateral for your next loan.

  • Loan amount. Borrow a percentage of your home equity, typically up to 65% or 80%. To determine your home equity, you can minus your house’s value from however much you have left to pay on your mortgage.
  • Loan term. Home equity loans for bad credit in Quebec tend to come with longer loan terms of up to 240 months.
  • Interest rate. Because home equity loans are secured, they come with lower APRs from 10%–29%.
  • Turnaround time. You can get a home equity loan with bad credit in Quebec in as little as 2 business days, although it could take longer since your home will need to be appraised.

Features of pay advance apps for bad credit in Quebec

  • Loan amounts. You can typically borrow up to $250 with a pay advance app.
  • Loan term. You’ll usually need to pay back the loan with your next paycheque.
  • Fees and interest. These apps don’t typically charge interest on what you borrow, but you may be charged a monthly membership fee.
  • Turnaround time: You can usually get these mini loans for bad credit within 24 hours, or sooner for a fee.

Features of lines of credit for bad credit in Quebec

Some key features to look out for when comparing bad credit lines of credit in Quebec include the following:

  • Loan amount. You may be able to qualify for a bad credit line of credit in Quebec worth up to $10,000.
  • Loan term. A line of credit is an open account, so you can pay off the balance anytime and re-access the money when you want to. Remember to repay you balance quickly because line of credit rates for bad credit are high.
  • Interest rate. If you have a poor credit score, you could be charged up to 47.42%, but you’ll only pay interest on what you borrow.
  • Turnaround time. You can typically get a line of credit for bad credit in Quebec within 24 to 48 hours.

How do bad credit loans work?

If you need to cover unexpected or emergency expenses, you might be looking at loans for bad credit in Quebec. These types of loans are just like regular loans, except they’re designed for borrowers with low credit scores. This means they usually come with higher interest rates and stricter repayment terms. Most will also come in the form of installment loans, where you’ll make repayments monthly over a set term.

The only requirement for most bad credit loans in Quebec, is that you have enough income coming in to be able to realistically pay them back. You’ll have to show proof of income (which can also be in the form of EI, disability assistance or the Canada Child Benefit). If you’re approved, you’ll be required to pay your loan back on time or your credit score will take a hit.

Benefits and drawbacks of bad credit loans

Benefits

  • Designed for bad credit. Bad credit loans are specifically designed for borrowers who have a credit score below 600 (and can’t qualify for traditional loans).
  • Quick cash. They are a quick way to get cash if you need to cover unexpected or emergency expenses.
  • Online application. Many online lenders offer bad credit loans, so you can apply from the comfort of your own home.
  • Can build your credit score. If you take out a credit builder loan, your lender will report your on-time payments to the credit bureau, which can help to build your credit score.

Drawbacks

  • High interest rates. You’ll pay much more in interest for bad credit loans in Quebec, so it’s best to take them out over a shorter period of time.
  • Smaller amounts. If your credit score is low, the amount you’re eligible to receive will usually be smaller.
  • Rigid repayment terms. Lenders will have less flexibility with repayment and you may risk losing the collateral you put up to secure your payments if you can’t make them.
  • Require proof of income. You’ll need to prove that you have enough money coming in to cover your debt. This can include showing proof of income from employment, pension or government benefits.

How do I apply for a bad credit loan in Quebec?

If you’ve decided that a bad credit loan is the right fit for you, then you’ll need to follow a couple of simple steps to apply.

  1. Compare lenders. The best way to find the right loan for you is to compare three to four lenders in the table above. Look for the best interest rates and terms for your loan.
  2. Fill out your application. Most places will ask you to provide your personal and banking info through an online or in-person application.
  3. Apply for loans selectively. You should apply for one loan at a time since your credit score will go down every time a lender checks your credit.
  4. Verify your identity. You’ll need to prove your identity by providing a government-issued piece of ID like your Quebec driver’s licence or passport.
  5. Show proof of income. You’ll have to submit pay stubs, tax returns or bank statements to show that you have enough money to make repayments.

What is the cost of a loan for bad credit in Quebec?

The total cost of a bad credit loan will vary depending on the loan type, loan amount, loan term, interest rate and any other fees. Below is an example of how much a $1,000 loan might cost a borrower in Quebec.

Loan amountInterest rateLoan termTotal loan costInterest charged
Unsecured personal loan$1,00046.93%6 months$1,141.25$141.25
Payday loan$1,000$15 for every $10014 days$1,150$150
Vehicle title loan$1,00035%12 months$1,199.56199.56

Personal loan calculator

Explore your potential monthly payments on personal loans for bad credit in Quebec with this calculator.

Personal loan monthly payment calculator

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Other options available for people struggling with bad credit

  • Get a cosigner. If a friend or family member with a better credit score is willing to cosign your loan, it could increase your chances of approval. However, keep in mind that if you default, they’ll be responsible for making the payments.
  • Government subsidies. You should look into government subsidies like social or child assistance payments sponsored by the government of Quebec.
  • Credit builder loans. Lenders will report every on-time payment you make to help you build your credit score faster.
  • Credit counselling services. If your credit score is really low and you feel like you’re drowning in debt, consider visiting a credit counselling service that can help you tackle your bad credit so you can get back on your feet.
  • Borrowing from friends or family. You may need to swallow your pride and ask your family or friends for support. It’s possible that they can also help you by cosigning a loan so that you get better interest rates or a larger amount.

What is considered bad credit in Quebec?

In Canada, including Quebec, credit scores range from 300 to 900. A score between 300-559 is considered bad credit, though some lenders may increase the threshold to 600.

Bad credit loans in Quebec come with higher interest rates and fees. That’s why it’s important to carefully compare your options before agreeing to any loan.

Bad Credit Score Range

How to improve your credit score

Got some time? Consider taking steps to improve your credit score before you apply to qualify for lower rates, higher amounts and an all-around better deal:

  • Check your credit report for mistakes that could be negatively affecting your credit, and contact the creditor if you see anything off.
  • Stay on top of your bills and reach out to your creditors if you think you might be late on a payment. The most important factor in your credit score is your history of on-time repayments.
  • Pay off debts can increase your credit score and make it easier to qualify for a loan when you apply. Focus on paying off higher-interest debts to save the most on interest.
  • Keep your credit cards open even after you pay off your credit card debt. The more access to unused credit you have, the lower your credit utilization ratio — which also plays into your credit score.

Bottom line

If you have bad credit and want to take out a loan in Quebec, you have options. Learn how to apply for bad credit loans and explore some alternatives if you don’t think they’re the right fit for you.

Frequently asked questions about bad credit loans in Quebec

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